Prospera Financial Services Inc Grows Position in American Tower Co. (NYSE:AMT)

Prospera Financial Services Inc grew its stake in shares of American Tower Co. (NYSE:AMT) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,122 shares of the real estate investment trust’s stock after buying an additional 157 shares during the period. Prospera Financial Services Inc’s holdings in American Tower were worth $3,754,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AMT. NBT Bank N A NY increased its holdings in shares of American Tower by 3.3% during the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock worth $329,000 after purchasing an additional 54 shares during the period. CX Institutional increased its holdings in shares of American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after purchasing an additional 54 shares during the period. O Brien Greene & Co. Inc increased its holdings in shares of American Tower by 2.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 55 shares during the period. Palumbo Wealth Management LLC increased its holdings in shares of American Tower by 1.6% during the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after purchasing an additional 57 shares during the period. Finally, Tyche Wealth Partners LLC increased its holdings in shares of American Tower by 4.9% during the 2nd quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock worth $242,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $200.88 on Thursday. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The firm has a fifty day simple moving average of $220.12 and a 200 day simple moving average of $211.30. The stock has a market capitalization of $93.87 billion, a price-to-earnings ratio of 84.76, a PEG ratio of 1.31 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the previous year, the company earned $2.58 earnings per share. American Tower’s revenue for the quarter was down 10.5% compared to the same quarter last year. Research analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is currently 273.42%.

Analysts Set New Price Targets

AMT has been the topic of several research reports. BMO Capital Markets dropped their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. TD Cowen lifted their target price on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Finally, Barclays decreased their target price on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research report on Monday. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $235.54.

American Tower Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.